Osborne buys former Ageas headquarters in Porto

Osborne buys former Ageas headquarters in Porto

The developer Osborne, specialized in the office segment, is the new owner of the Campo Alegre building, former headquarters of Ageas in Porto. This concludes the sale of the Invictus portfolio, belonging to the insurance company.

The Campo Alegre building has a total of 15,000 square meters, spread over 7 floors, and the capacity to receive more than 600 employees. It is another asset available to fill the lack of office supply in Invicta.

For Ageas, this transaction "meets its real expectations in the completion of a structured process that included 3 important assets in the city of Porto, and it is with great satisfaction that it recognizes the importance of the transformation project presented by Osborne, which will give a new life to the building where the headquarters of that Insurance Group used to be and which, with the planned redevelopment, will contribute to an increasingly regenerated city", as can be read in a statement.

Fernando Caldas, head of Osborne+Co in Portugal, said: "We are very pleased with the acquisition of this emblematic building, the first step in our strategy in Portugal. Our extensive global track-record in promoting state-of-the-art office buildings contributes decisively to the sustainable development of cities, complying with ESG requirements". The manager hopes "that the future occupants of this building can enjoy an environment and complementary services with high quality standards".

In this deal, CBRE advised Ageas, as seller. Miguel Alvim, Head of Development Properties of CBRE Portugal, highlights that "the transaction of Campo Alegre building is a very important step for CBRE: it is the culmination of a successful partnership with the insurer AGEAS, with whom we outline and execute a solid sales strategy in Porto. At the same time, we are very proud to contribute in a decisive way to the regeneration of downtown Porto, which has managed to attract a great diversity of investors and developers, in this case, very motivated by the great dynamism in the office occupation of the city".

According to the consultancy, the sale of Campo Alegre "marks the real estate sector in the city of Porto", after a year in which several deals were closed, namely in the office rehabilitation segment, with a transacted area of over 35,000 square metres and a transaction value of around 30 million euros. Among the main deals closed were the sale of offices at Rua Latino Coelho and the sale of the Via Gaia building.

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